- Investors Fund
Fund Objective
The Investors Fund seeks long-term capital appreciation.
Investment Strategies
The fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its assets in the common stock of established, high-quality, growth companies. The portfolio managers define “high-quality” companies as those businesses that have demonstrated stable revenue and earnings growth patterns and high profitability metrics, and that maintain proportionately low levels of debt. The fund may also invest up to 35% of its assets in foreign securities (including American Depositary Receipts and emerging market securities). To the extent invested in common stocks, the fund generally invests in only 25-40 companies at any given time. This reflects Madison’s belief that your money should be invested in the adviser’s top investment ideas, and that focusing on Madison’s best investment ideas is the best way to achieve the fund’s investment objectives.
Quarterly Materials
Key Highlights
(as of Tuesday February 07, 2023) | ||||
Class A | Class Y | Class I | Class R6 | |
Daily Price | 24.78 | 24.81 | 24.71 | 24.99 |
Ticker Symbol | MNVAX | MINVX | MIVIX | MNVRX |
Inception Date | 9/23/2013 | 11/1/78 | 8/31/2020 | 9/23/2013 |
Expense Ratio | 1.16 | 0.91 | 0.81 | 0.73 |
Links to other Madison Funds information:
Daily Price Summary
Performance Summary (PDF)
Prospectus and Financial Reports
Account Applications and Forms
Tax Information
Form 8937 - LCG Reorganization 2/26/2016
Form 8937 - DE Reorganization 9/20/2013
Portfolio Management

Rich Eisinger
Rich has served as portfolio manager on the U.S. Equity Team since 1998. In addition to his portfolio management duties, Rich also serves as an equity analyst on the team. Prior to joining Madison, Rich worked as an investment manager for Spectrum Advisors. He holds a JD degree from the University of Louisville and an MBA from Cornell University.

Haruki Toyama
Haruki serves as a mid-cap and large cap portfolio manager and analyst on Madison's U.S. Equity Team. He brings over 20 years of investment experience and is the team’s Director of Research. Haruki started in the financial services industry in 1994, was a member of the Madison U.S. Equity Team from 2002-2004 and he rejoined the firm in 2014. Outside of his tenure at Madison, Haruki was co-founder and President of Marcus Asset Management in Milwaukee where he was portfolio manager of a long/short hedge fund and started his career working in analyst and portfolio manager roles at MFS Investment Management and David L. Babson & Company. Haruki holds a BA from Brown University and an MBA from Cornell University.

Joe Maginot
Joe serves as a large cap portfolio manager and analyst on Madison’s U.S. Equity Team. He started in the financial services industry in 2012 and joined Madison in 2019. Prior to joining Madison, he was an Investment Analyst at Zuckerman Investment Group. Joe earned his B.A. in chemistry and minor in economics from Indiana University.
Portfolio Highlights
Top Ten Fund Holdings | |
(as of December 31, 2022) | |
ARCH CAPITAL GROUP LTD | 6.7% |
ALPHABET INC CL C | 6.5% |
BECTON DICKINSON AND CO | 4.9% |
DOLLAR TREE INC | 4.6% |
LOWE S COS INC | 4.6% |
FISERV INC | 4.3% |
ANALOG DEVICES INC | 4.2% |
BERKSHIRE HATHAWAY INC CL B | 4.1% |
ALCON INC | 4.1% |
PACCAR INC | 4.0% |
% of Fund in Top Ten Securities | 48.0% |
Total Net Assets (as of 12/31/22) | $300.8 Million |
Turnover (as of 10/31/22) | 18% |